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I had a heartfelt conversation with a
sports personality who soon retired (her name was kept for ethical reasons but
called her Jane) about her future after years of practicing sports. She was
worried about how her charity could be maintained without blowing the savings.

Influential individuals, including
celebrities and athletes, are very active in charity. The strong impact that
communities have on supporting & # 39; one of their own & # 39; or home
support helps to foster these relationships. Some of the successful athletes
also benefit from non-profit projects. Therefore, there are more likely
athletes to favor the participation of empowerment in the community. But at
what cost?

From my conversation with Jane, she
told me that despite registering a charity under her name, her donations to
other charities were made with her personal account (nothing wrong). However,
as someone who wants to get more involved in charity, the problem becomes, how
does she seek out money with your personal account? And how does she manage her
personal finances separately from charity?

Like Jane, there are other individuals
who are passionate about charity but lack the means to raise money from their
networks and therefore inflate their savings just to keep up the spirit of giving
back to the community.

Without following a detailed plan,
your goals are easy to define. And without a policy, there is a lack of
financial prudence, and this becomes a liability to your personal accounts and
income statement.

When financial management and
liability concerns are set up, the risk of damage to your brand and person will
escalate. The impact is devastating both for your non-profit business and your
personal life, including financially. Negative coverage harms your reputation
and credibility. It could also attract sanctions from government and
professional enforcement agencies.

Some disciplinary actions by
professional regulators and governments (federal states) include; delisting,
freezing assets and assets of the agency or imposing fines to serve as a
warning.

Fortunately for Jane, her case was
entirely straightforward since my input was technical. We set up a non-profit
technical facility for it and developed a strategic business plan. The
strategic action plan will be the guiding principle for those not for profit in
the near term.

I am also delighted to have met Jane
and worked with her on developing a prudent plan on how to get and manage
wealth from wealth in her network. Most importantly, I am pleased to have
worked with Jane on separating her personal financial activities from those who
are to do with her organization.

There may be other people with similar
concerns to those Jane experienced. Others might have vague strategic
fundraising plans. I advise you to seek professional help to resolve these
concerns. They not only stifle the growth potential of your business, but
expose you to reputation or financial damage.